Australian Dollar Climbs Higher and Higher Overview 19.07.2017

The Aussie feels very well, indeed, and after a short break it has been rising for the second day in a row as compared to US Dollar. The current quote for the pair is 0.7932. The pair showed such high prices more than 2 years ago.

Such an impressive rise of the Aussie will definitely be taken into account by the Reserve Bank of Australia. During the last few years the RBA has regularly discussed the national currency's rate and included its views on this issue in every after-meeting report. The buying interest has direct connection to the weaker US Dollar. Traders is massively selling the greenback, and this supports other tradeable currencies well enough.

The data announced today showed that Australian index of leading indicators fell by 0.1% m/m as of May; in April, the index turned to be 0. The index calculated by Melbourne University shows the basic parameters of economic situation in the country. There are 9 of such parameters overall. Westpac commented it saw signs of slowing in Australian economy. This scenario is confirmed by annual data on the index; they have been worsening for 6 months so far.

It is considered that the global prices on commodities and their volatility have impacted the economy most of all. The Aussie doesn't react to statistics as the weaker US Dollar is the primary factor on the market for the time being.